LES Scadding has stepped down as chairman and director of Newport County AFC with immediate effect.

In an open letter to County fans he writes: "I would like to inform all those that follow and are concerned with Newport County AFC that I have just informed the board that I will be standing down as chairman and director of Newport County AFC, with immediate effect.

"I leave my position at the club in the knowledge that I have contributed to the promotion and development of our club and I will of course continue to support the club now from the side lines.

"I have chosen to stand down now, in the closed season, to give every opportunity to the new chairman, board, team and club in general, to establish themselves and avoid unnecessary disruption and distractions during the playing season.

"Over recent times I have been actively seeking and negotiating with parties interested in coming on board with additional investment and/or sale of my shares, from both national and international interest.

"Unfortunately no deal has been struck to date, however, I remain hopeful that this will happen in due course and will be to the benefit of the Club.

"I have thoroughly enjoyed my time at Newport County AFC and would like to thank absolutely everyone who has contributed, supported and been loyal to me and the club during my tenure.

"We have shared such momentous times together, they will live long in my memory. However I now intend to retire, spend most of my time overseas and devote my time to my family.

"All good things must come to an end but I want to stress it has been an honour and a privilege to have been a part of the history and heritage of Newport County AFC and I wish the club and all those who are custodians of it, all the very best of luck in the future.

"Up the County!!!"

The club said: "Newport County would like to place on record it's thanks Les for his time, commitment and efforts given to the club during his time here which has seen County return to the Football League."